Listing ID: 220008485SD
Price: $7,750,000
Status: Active
Address: 2121 Thomas Ave
City: San Diego
State: California
Postal Code: 92109
County: San Diego
San Diego
CA
92109
Pleased to present a rare opportunity to acquire a highly renovated, luxury community in the Pacific Beach neighborhood of San Diego. Board House Villas is comprised of 10 total apartment units offering 6,609 rentable square feet. Originally constructed in 1970, this property has undergone an extensive renovation completed in 2022 including interior, exterior, major systems, and many additions. Board House Villas, located at 2121 Thomas Ave, is comprised of (3) 2-bedroom/1-bathroom units, (5) 1-bedroom/1-bathroom units, and (2) oversized studio/1-bathroom units. Each unit is highly renovated with ducted air conditioning and heating, in-unit laundry, a modern design, and all high-end materials. Three of the first-floor units feature roll-up garage doors in the living room that open to large private patios for indoor/outdoor enjoyment. Second floor units feature private rooftop decks with bay views accessed by a custom floating stairway making for a one-of-a-kind apartment living in this coastal neighborhood. In addition to the many features added, the major systems have been replaced which were completed with City of San Diego building permits and inspections. Board House Villas offers investors the rare opportunity to acquire a turnkey property in one of San Diego’s most desirable rental markets. This stabilized asset is walking distance to Mission Bay and is positioned for long term appreciation and rent growth for the years to come. Pacific Beach is a high demand rental market with low vacancy rates because of the proximity to the beach, Mission Bay, and hundreds of local bars, shops, and attractions. This asset has been strategically renovated and positioned in a market lacking luxury product with the investor’s longevity in mind. Cooling: Central Forced Air Elec

Primary Features

County: San Diego
Property Sub Type: Commercial/Residential
Property Type: Commercial Sale

Interior

Heating: yes
Heating Type: Forced Air

External

Location

Country: US
MLS Area Major: 92109 - Pacific Beach

Additional

Days On Market: 79
List Agent State License: 01974818
List Office State License: 00530854
Number Of Units Total: 10
Parcel Number: 4242020400

Financial

Cap Rate: 3.51
Gross Scheduled Income: 409200
Operating Expense: 131464

Zoning Info


Area Info


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Based on information from CARETS as of Thursday, June 30th, 2022 03:14:34 PM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

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Listing Agent: Carson Trujillo, DRE #01974818 from Marcus & Millichap 858-373-3100
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Listing Agent: Carson Trujillo, DRE #01974818 from Marcus & Millichap 858-373-3100
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Listing Agent: Carson Trujillo, DRE #01974818 from Marcus & Millichap 858-373-3100

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